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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Tribunal Approval Required to Appoint Receiver for Liquidator-Managed Assets Under Section 453 of Companies Act, 1956.</h1> A receiver cannot be appointed for assets managed by a liquidator unless authorized by the Tribunal. This provision is outlined in Section 453 of the Companies Act, 1956, which was amended by the Companies (Second Amendment) Act, 2002. The amendment specifies that the Tribunal's permission is necessary for such appointments, ensuring that the liquidator retains control over the assets during the winding-up process.
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